The US Federal Reserve delivered a 75 bps rate hike (the largest hike since 1994), triggering recession fears which might ripple across the major pairs in the week. Also, the ECB pre-announced it would hike rates by 25 bps in July; it is obvious that lifting rates also mean higher borrowing costs. Amidst all these development and from a technical perspective, I am looking forward to a bullish momentum with a key level sitting at around $1.04900... However, if price action does the opposite, I will be looking forward to selling at breakdown/retest of the Demand zone @ $1.04000 (which I doubt will happen based on the current structure!).
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Comment:
Price is right at our entry zone (key level); we await bullish confirmation details on the lower time frame to join the rally. Stay tuned in... update coming soon
Trade active:
Multiple entries running in profit; moving stops accordingly
Trade active:
Stopped out with a small profit on the multiple positions as the price comes back to our entry-level and it appears that the key level at $1.04900 is still holding price action "supported" hence I am anticipating a re-entry after confirmation on a lower time frame. Though, I have a position running now to test the waters. Update coming soon!
Comment:
It is time to move our stop loss accordingly in other not to get caught up in a potential decline.
Comment:
Price is back at our entry point but still above the significant level at 1.05000 (a strong psychological level); patience is hereby required as we want to see how structure evolve in the next one or two hours to know if our bullish bias remains valid. Update coming soon!
Trade active:
I am in at breakout of structure at 1.05200; if you miss this move - opportunity at the retest of structure. Best of luck!
Trade active:
We are in!
Comment:
Running in profit
Trade smart. Trade consciously